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Home Bare Acts Phrase: sinkingNew Delhi Municipal Council Act 1994 Section 131
Title: Maintenance and Investment of Sinking Funds
State: Central
Year: 1994
.....fifteen days. (3) All dividends and other sums received in respect of any such investment shall, as soon as possible after receipt, be paid into the sinking funds and invested in the manner laid down in sub-section (2). (4) When any part of a sinking fund is invested in New Delhi municipal debentures, or is applied in paying off any part of a loan before the period fixed for repayment, the interest which would otherwise have been payable on such debentures or on such part of the loan shall be paid into the sinking fund and invested in the manner laid down in sub-section (2). (5) Any investment made under this section may, subject to the provision of sub-section (2), be varied or transposed.
View Complete Act List Judgments citing this sectionKarnataka Municipal Corporations Act, 1976 Section 160
Title: Maintenance and Investment of Sinking Funds
State: Karnataka
Year: 1976
.....within fifteen days. (3) All dividends and other sums received in respect of any such investment shall, as soon as possible after receipt, be paid into the sinking fund and invested in the manner laid down in sub-section (2). (4) When any part of a sinking fund is invested in corporation debentures, or is applied in paying off any part of a loan before the period fixed for repayment, the interest which would otherwise have been payable on such debentures or on such part of the loan shall be paid into the sinking fund and invested in the manner laid down in sub-section (2). (5) Any investment made under this section may, subject to the provisions of sub-section (2), be varied or transposed.
View Complete Act List Judgments citing this sectionMajor Port Trusts Act, 1963 Section 83
Title: Examination of Sinking Fund
State: Central
Year: 1963
.....sanctions a gradual readjustment. (3) If the cash and the current market value of the securities at the credit of a sinking fund are in excess of the amount which should be at its credit, the person appointed under sub-section (1) shall certify the amount of this excess, and the Board may, with the previous sanction of the Central Government,-- (a) withdraw the whole or any part of the certified excess in which case the Trustees in whose names the sinking fund is invested under sub-section (1) of section 82, shall forthwith transfer securities of the requisite current market value, or cash and securities of the requisite current market value, to the Board, or (b) reduce or discontinue the half-yearly contributions to the sinking fund required under section 81, or (c) adopt a combination of these measures.
View Complete Act List Judgments citing this sectionMajor Port Trusts Act, 1963 Section 81
Title: Establishment of Sinking Fund
State: Central
Year: 1963
(1) In respect of every loan raised by a Board under this Act, which is not repayable before the expiration of one year from the date of the loan, the Board shall set apart half-yearly out of its income as a sinking fund a sum sufficient to liquidate the loan within a period which shall not in any case, unless the previous consent of the Central Government has been obtained, exceed thirty years; but the maximum period shall not in any case exceed sixty years: Provided that a sinking fund need not in the absence of any stipulation to that effect be established in the case of loans taken by the Board from the Central Government or any State Government. (2) Where any sinking fund has, before the appointed day, been established by any authority in respect of a loan raised by it for which loan the Board is liable under this Act, the sinking fund so established by that authority shall be deemed to have been established by the Board under this section.
View Complete Act List Judgments citing this sectionMajor Port Trusts Act, 1963 Section 82
Title: Investment and Application of Sinking Fund
State: Central
Year: 1963
(1) The sums so set apart by a Board under sub-section (1) of section 81 and the sums forming part of any sinking fund referred to in sub-section (2) of that section shall be invested in public securities or in such other securities as the Central Government may approve in this behalf, and shall be held in trust for the purposes of this Act1[by the Board]. (2) A Board may apply the whole or any part of the sums accumulated in any sinking fund in or towards the discharge of the moneys for the repayment of which the fund has been established: Provided that it pays into the fund in each year, and accumulates until the whole of the moneys borrowed are discharged, a sum equivalent to the interest which would have been produced by the sinking fund, or the part of the sinking fund so applied. ________________________ 1 . Substituted for the words "by two Trustees, one being the Board and the other a person appointed by the Central Government" by the Major Port Trusts (Amdt.) Act (29 of 1974), S. 29 (1-2-1978).
View Complete Act List Judgments citing this sectionNew Delhi Municipal Council Act 1994 Section 132
Title: Application of Sinking Funds
State: Central
Year: 1994
A sinking fund or any part thereof shall be applied in or towards the discharge of the loan or a part of the loan for which such fund was created, and until such loan or part is wholly discharged shall not be applied for any other purpose. Provided that when any loan or part thereof has been consolidated under section 134, the Chairperson shall transfer to the sinking fund of the consolidated loan such part of the sinking funds of the original loans as may be proportionate to the amount of the original loans incorporated in the consolidated loan.
View Complete Act List Judgments citing this sectionKarnataka Municipal Corporations Act, 1976 Section 161
Title: Application of Sinking Fund
State: Karnataka
Year: 1976
The aforesaid trustees may apply a sinking fund or any part thereof, in or towards the discharge of the loan or part of a loan for which such fund was created, and until such loan or part is wholly discharged shall not apply the same for any other purpose: Provided that when any loan or parts thereof have been consolidated under section 163, the trustees shall transfer to the sinking fund of the consolidated loan so created such part of the sinking funds of the original loans as may be proportionate to the amount of the original loans incorporated in the consolidated loan.
View Complete Act List Judgments citing this sectionKarnataka Housing Board Act, 1962 Section 54B
Title: Establishment of a Sinking Fund
State: Karnataka
Year: 1962
(1) The Board may establish a sinking fund for the purpose of repayment of loans borrowed by it. (2) The amounts to be paid into the sinking fund and the mode of payment shall be as may be prescribed. (3) All moneys paid into the sinking fund shall be invested in Government securities or fixed deposits with Scheduled Bank]. _______________________________ 1. Sections 54A and 54B Inserted by Act 8 of 1988 w.e.f. 1.5.1988.
View Complete Act List Judgments citing this sectionKarnataka Ground Water (Regulation for Protection of Sources of Drinking Water) Act, 1999 Section 3
Title: Permission to Sink Well Etc
State: Karnataka
Year: 1999
.....sub-section (2), the appropriate authority may, on the advice of the Technical Officer, and having regard to the interest of the general public to have the supply of requisite quantity of water for the pu rpose of drinking water from the public sources: and for reasons to be recorded in writing grant permission for sinking of well or reject the application. (4) Every permission granted under sub-section (3) shall be subject to,- (a) the condition that the appropriate authority may, for reasons to be recorded in writing by order prohibit, restrict or regulate from time to time the extraction of water from such well, if in its opinion it is necessary to do so in the interest of protection of public sources of drinking water. (b) such other conditions and restrictions as may be prescribed.
View Complete Act List Judgments citing this sectionKarnataka Ground Water (Regulation for Protection of Sources of Drinking Water) Act, 1999 Section 7
Title: Prohibition for Sinking Wells in Over-exploited Watershed
State: Karnataka
Year: 1999
.....appropriate authority in such form and accompanied by such fees as may be prescribed. (3) The appropriate authority may, on receipt of the application and having regard to the requirement of water for purposes of providing drinking water and in the interest of general public either grant permission to sink well or reject the application. (4) Every permission granted under this section shall be subject to,- (a) the condition that the appropriate authority may, for reasons to be recorded in writing, by order prohibit, restrict or regulate the extraction of water from such well for such period as may be specified in such order, if in its opinion, it is necessary to do so in the interest of protection of public sources of drinking water: and (b) such other conditions and restrictions, as may be prescribed.
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